Search C21 Listings by Agent

Select an Agent Debbie Baldwin Fred Baldwin Rich Blakley Rick Bolic Lana Carrell Dennis Clark Jodi Clark Lonnie Cotter Kathleen Curtis Dennis Fleming Katy Griffin Diane Gulley Rich Hadley Tim Hadley Kevin Kyle Ray Lengele Pam Lester Selena McNeill Todd Miller Doug Myers Jen Myers Lynne Myers Kathleen O'Conner Bill Olsen Karin Powers Renee Price Jim Prosser Chris Quinn John Ropp Dennis Senko Sherm Wright

Property Type:
Search All Search All Residential Residential Residential with Acres Manufactured with Acreage Manufactured Mobile Home-No Land Condominiums Shared Int/Timeshare Search All Land Lots Acreage Commercial Multi Units Farms/Ranches Business Property Income Property
Price:
No Minimum $10,000 $20,000 $30,000 $40,000 $45,000 $50,000 $55,000 $60,000 $65,000 $70,000 $75,000 $80,000 $85,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $450,000 $500,000 $550,000 $600,000 $650,000 $700,000 $750,000 $800,000 $850,000 $900,000 $950,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $3,500,000 $4,000,000 $4,500,000 $5,000,000 $6,000,000 $8,000,000 $10,000,000
No Maximum $10,000 $20,000 $30,000 $40,000 $45,000 $50,000 $55,000 $60,000 $65,000 $70,000 $75,000 $80,000 $85,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $450,000 $500,000 $550,000 $600,000 $650,000 $700,000 $750,000 $800,000 $850,000 $900,000 $950,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $3,500,000 $4,000,000 $4,500,000 $5,000,000 $6,000,000 $8,000,000 $10,000,000
Bedrooms
Any 1+ 2+ 3+ 4+ 5+
Bathrooms:
Any 1+ 2+ 3+ 4+ 5+
Min SqFt:
Any 800 1000 1200 1400 1600 1800 2000 2500 3000 3500 4000 5000 6000 8000 10000
Area:
All Areas Bend Crook County Crooked River Ranch Jefferson County La Pine North Klamath County Redmond Sisters Three Rivers South Sunriver Other

Search by MLS Number

C21 Featured Listings

Crooked River Ranch, OR
3 Bedrooms, 2 Bathrooms
$399,000 - MLS 2904691
more info

Prineville, OR
3 Bedrooms, 3 Bathrooms
$394,500 - MLS 2902062
more info

more C21 Listings by Agents

Buyer Tips

Understanding Real Estate Terminology

Purchasing a home can be a complicated and confusing process, especially for first-time buyers. Throughout the process, first-time home buyers will encounter a variety of unfamiliar real state terms. There are several key terms associates with purchasing real estate that are helpful to learn.

Once you decide to purchase, your real estate agent will prepare a sales contract to present to the seller along with your earnest money deposit. The sales contract is the document through which the seller agrees to give possession and title of property to the buyer upon full payment of the purchase price and performance of agreed-upon conditions. The earnest money is a buyers partial payment, as a show of good faith, to make the contract binding. Often, the earnest money is held in an escrow account. Escrow is the process by which money is held by a disinterested party until the terms of the escrow instructions are fulfilled.

After the buyer and seller have signed the contract, the buyer must obtain a mortgage note by presenting the contract to a mortgage lender. The note is the buyer's promise to pay the purchase price of the real estate in addition to a stated interest rate over a specified period of time. A mortgage lender places a lien on the property, or mortgage, and this secures the mortgage note.

The buyer pays interest money to the lender exchange for the use of money borrowed. Interest is usually referred to as APR or annual percentage rate. Interest is paid on the principle, the capital sum the buyer owes. Interest payments may be disguised in the form of points. Points are an up-front cost which may be paid by either the buyer or seller or both in conventional loans.

In general, there are two types of conventional loans that a buyer can obtain. A fixed rate loan has the same rate of interest for the life of the loan, usually 30 years. An adjustable rate loan or adjustable rate mortgage (ARM) provides a discounted initial rate, which changes after a set period of time. The rate can't exceed the interest rate cap or ceiling allowed on such loans for any one adjustment period. Some ARMs have a lifetime cap on interest. The buyer makes the loan and interest payments to the lender through amortization, the systematic payment and retirement of debt over a set period of time.

Once the contract has been signed and a mortgage note obtained, the buyer and seller must legally close the real estate transaction. The closing is a meeting where the buyer, seller and their attorneys review, sign and exchange the final documents. At the closing, the buyer receives the appraisal report, an estimate of the property's value with the appraiser's signature, certification and sporting documents. The buyer also receives the title and the deed. The title shows evidence of the buyer's ownership of the property while the deed legally transfers the title from the seller to the buyer. The final document the buyer receives at closing is a title insurance policy, insurance against the loss of the title if it's found to be imperfect.

Buyers should plan on at least four to twelve weeks for a typical real estate transaction. The process is aided by your general understanding of real estate terminology and chronology of the transaction, however, your real estate broker will be able to assist you along the way.

Last Updated: 09/07/2010
more from C21 Central Oregon

Subscribe to RSS Feed
Follow us on Twitter

Did You Know ...

A person is considered a first-time home buyer if he/she has not had any ownership interest in a home in the three years previous to the day of the 2009 purchase and may be eligible for the $8,000.00 First Time Homebuyer Tax Credit ...
more info

C21 Newsletter

Lease-Purchases a Viable Alternative for Some
11/05/2009

Lower Your Heating Costs This Winter by Weatherizing Your Home
11/04/2009

Short Sale Basics
06/30/2009

Maximize the chances of selling your home
06/29/2009

C21 Newsletter Archive